According to CNW Research, used vehicle March auto sales surpassed the 3 million mark, with totals not seen in more than 10 years.
CNW Research breaks down March used vehicle sales totals.
Used sales surpassed 3 million in March, creating an 11-percent year-over-year lift. The total came in at just above 3 million, up from 2.7 million a year ago. In March 2002, the used sales total was 3.1 million, according to CNW.
Breaking down the March total, CNW indicated franchised dealers sold 1.08 million units last month, 17.34 percent more than a year ago. Meanwhile, independent stores turned 7.14 percent more vehicles in March than they did a year earlier, amassing 959,931 sales.
Furthermore, the firm determined private-party sales rose 8.75 percent year-over-year to 960,804.
CNW president Art Spinella explained how two factors triggered the best March sales figure in 11 years. Spinella said there was “a big influx” of older vehicles, units from the 1998 model year and earlier. Plus, he pointed out a surge in the amount of late-model vehicles available helped to push March sales.